By now, most everyone has heard the news about The USA's credit rating being dropped from AAA to AA+. It's bad news. And as is so often the case, the headlines and airwaves are awash with people pontificating as to Whose Fault It IsTM.
Do you know the question that I haven't heard or seen yet? The question that I think makes the most sense to get the answer to?
How do we get our country's credit rating to go back up to AAA?
Why is no one talking about that? It seems like the most common-sense thing you could do. I'd like to know the answer to that question myself, so I know what kinds of things to vote for and write my representatives about. It's a standard rating system - so there should be some kind of qualitative formula that we could look at in order to modify our nation's fiscal behavior to raise our grades. This isn't some kind of subjective popularity rating from high school.
But, no. Our nation's leadership is running around the schoolyard screaming about how unfair it is that they got an F in Math and it's all somebody else's fault. Not a single word about WHY it happened (ask S&P, perhaps?) or HOW they plan on reversing it (comply with the rules relating to debt-to-asset ratios, perhaps?).
It's amazing... and sad.
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